Good news, bank workers! Bank workers' pay will rise, and they'll just need to work five days a week
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| Good news, bank workers! Bank workers' pay will rise, and they'll just need to work five days a week |
Bank holidays: Government bank staff had excellent news. Even though their pay could be up by 15 to 20 percent starting in mid-December, they might only be able to work five days a week at the plant.
For those who work for government banks or public sector banks, this year may conclude with double satisfaction. In addition to receiving a 15%–20% pay boost, they could also get bonuses for working five days a week by the middle of December. Because the last phase of the 12th bilateral negotiation between the Indian Banks Association and the bank unions has now begun. Revisions to wages and modifications to workdays will also apply to regional rural banks.
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| Good news, bank workers! Bank workers' pay will rise, and they'll just need to work five days a week |
Sources who provided this information to Financial Express said, "The arrangement is the first time that a proposal for a raise in wages is being initiated in the history of negotiations." Most likely, it will be between 15% and 20%. He said that the announcement of the five-day workweek would be made immediately after the wage raise notice, either by the IBA or the Center.
Bank employees will start work early and finish 30 to 45 minutes later.
According to insiders, workday hours will begin earlier and end 30 to 45 minutes later than they do now. He said that because of the branch closures, this would also save fuel for transportation and power. The savings and other variables are greatly outweighed by this annoyance to the clients.
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| Good news, bank workers! Bank workers' pay will rise, and they'll just need to work five days a week |
Additionally, workers need more family time. Weekend hours for bank branches will not be open throughout the five-day workweek. In order to make up for the lost working hours, employees could be expected to work longer hours during the workweek.
What effect will it have on bank clients? If bank branches are closed on weekends, consumers may still withdraw or transfer money via ATMs. Depositing checks is the only difficulty with the five-day work week, according to sources. These two days will have an impact on check collecting. According to sources, workers at insurance firms, state and federal governments, and the federal government enjoy a five-day workweek. However, granting bankers the same benefit is a positive move.
